The

INSURANCE RECORD THE VOICE OF TEXAS INSURANCE Published Since 1934 • Dallas, Texas September 9, 2010 • Vol. 76 No. 18

hUD Gives Millions to
Mitigate Future Texas Disasters

WASHINGTON—U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan awarded $67.9 million to the State of Texas to reduce the human, physical, and economic toll of future disasters. The grants announced are provided through HUD’s Disaster Recovery Enhancement Fund (DREF), a total of $312 million in funding that is intended to encourage states to undertake activities and long-term strategies that focus on reducing damages from future natural disasters.

In the past two years, HUD allocated more than $5.6 billion in disaster recovery funding through its Community Development Block Grant (CDBG) to 13 states, including more than $3 billion to the State of Texas. The DREF

was established to support the long-term recovery following dozens of natural disasters in 2008. As a result of having received CDBG funds for those disasters, these 13 states were eligible to receive additional allocations based on the significant investment they’ve made by targeting their CDBG funds to disaster mitigation.

A Stitch in Time “An ounce of prevention today can spare communities a world of hurt tomorrow,” said Donovan. “We’re making a serious investment in our future by making certain that when disaster strikes, the impacted communities in these states can weather the storm.”

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As Hurricanes Prowl —

In This Issue

Time Running Out for Congress

TDI-DWC Notes Recent enforcement Actions

to Act on Flood Insurance

Blue Goose Sets Liability Protection Workshop

WASHINGTON—The National Flood Insurance Program (NFIP) is set to expire on Sept. 30, just as the 2010 Atlantic Hurricane Season reaches its height. The Property Casualty Insurers Association of America (PCI) urges Congress to take immediate action and reauthorize the NFIP.

IABA Urges Repeal of Tax Provision 6

Bad e&O Makes for Risky Business 8

PC Insurers Still have extra Cash, BUT

“Congress has entered a dangerous cycle of short-term patches for the flood program,” said David A. Sampson, president and CEO of PCI. “We need a viable, long-term reauthorization for the flood insurance program to protect families and our communities.”

NAAIA Sets Annual

Meet in Dallas, Oct. 13-15

Division Field Offices host educational Sessions

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